Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Missouri

Missouri Mortgage Calculator

Set to Missouri’s own property tax rate of 0.79% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($50,800)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$1,536
Monthly payment
$1,295
Principal & interest
$167
Taxes
$74
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $203,200 Interest paid $263,026
20262056
Total of 360 payments$553,106
Principal$203,200
Interest$263,026
Taxes$60,210
Insurance$26,670
HOA fees$0
P&I 84.3% Taxes 10.9% Insurance 4.8%
15- vs 30-year term at 6.58%
15-year
$1,779/mo P&I
$117,027 total interest
30-year · current
$1,295/mo P&I
$263,026 total interest
The 15-year term saves $145,999 in interest. Which term is right for you?

What these numbers come from

Median home value
$254,400
Median tax bill
$2,021
Effective tax rate
0.79%
Rank of 51
23rd highest

Missouri taxes property at about 0.79% of value against 0.89% nationally. On a $254,000 home that is $21 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Missouri home prices

20% down, 30-year fixed at 6.58%, with Missouri property tax of 0.79% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$153,000 $122,400 $780 $101 $925
$204,000 $163,200 $1,040 $134 $1,234
$254,000 median $203,200 $1,295 $167 $1,536
$318,000 $254,400 $1,621 $209 $1,923
$382,000 $305,600 $1,948 $251 $2,311

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Missouri taxes alone add $167 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $181 $1,114 $241 $203,019
Sep $182 $1,113 $241 $202,837
Oct $183 $1,112 $241 $202,654
Nov $184 $1,111 $241 $202,471
Dec $185 $1,110 $241 $202,286
2026 $914 $5,561 $1,207 $202,286
Jan $186 $1,109 $241 $202,100
Feb $187 $1,108 $241 $201,913
Mar $188 $1,107 $241 $201,725
Apr $189 $1,106 $241 $201,536
May $190 $1,105 $241 $201,346
Jun $191 $1,104 $241 $201,155

Refinancing in Missouri

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Missouri home loans in detail

Missouri Mortgage Overview

Missouri has a population of just over 6 million people. The average home price is $280,000 and 66% of the homes in MO are owner-occupied. The Missouri Housing Development Commission offers a variety of programs to make buying your first home in Missouri simple.

If you're thinking of buying a home in Missouri, here are your top loan options.

Missouri FHA loans

You don't need perfect credit to get a mortgage in Missouri. The FHA loan offers flexible guidelines for first-time and subsequent homebuyers. With a 580 credit score and 3.5 percent down on a home, you could become a homeowner in MO. The FHA loan has flexible guidelines including up to 50 percent debt ratios. If you have a 500 - 579 credit score, you may still get approved but with a 10 percent down payment.

Missouri VA loans

The VA helps veterans secure housing by offering a 100 percent down payment program. Veterans need a 620 credit score and enough money to cover their bills and the daily cost of living. The VA doesn't charge mortgage insurance and only charges an upfront funding fee to provide the VA guarantee that allows lenders to offer flexible guidelines for veterans.

Missouri USDA loans

The USDA also guarantees loans for borrowers who don't qualify for any other loan program. You must live in a 'rural' area, but the USDA loosely defines rural, making it more accessible than many people think. USDA loans have low interest rates and closing costs, but they do charge mortgage insurance for the life of the loan.

Missouri conventional loans

Conventional loans are for borrowers with great credit and low debt ratios. They are the 'standard' mortgage, but you can get by with less than 20 percent down. First-time homebuyers need just 3 percent down and subsequent homebuyers need 5 percent down. Conventional loans charge PMI but only until you owe less than 80 percent of the home's value.

First-Time Homebuyer Programs in Missouri

First Place Loan Program

First-time homebuyers or anyone who hasn't owned a home in the last 3 years who meet the MHDC credit score requirement may get closing cost and down payment assistance of up to 4 percent of the loan amount. The assistance is a second mortgage that the MHDC forgives if you stay in the home for 10 years. It's forgiven at 1/60th of the amount each month until the 120th month. The amount your receive and qualifying requirements vary by area.

MCC

The mortgage credit certificate enables borrowers to get a tax credit for the mortgage interest paid each year. Borrowers may get a credit for up to 40 percent of the interest paid or $2,000 max. This reduces your tax liability and offsets the cost of owning a home.

Next Step Program

The Next Step Program is for borrowers who make too much money to qualify for the First Place Loan Program but who need assistance. The income limits are higher, but the program offers the same benefits including a 4 percent down payment and closing cost assistance that they forgive over 10 years.

Missouri mortgage FAQ

How much is property tax on a home in Missouri?
Missouri homeowners pay an effective property tax rate of about 0.79 percent of home value — the 23rd highest of the 50 states and DC. On the state's median home value of $254,400 that works out to roughly $2,007 a year, or $167 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Missouri home?
At $254,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $1,295 a month. Adding Missouri property tax of roughly $167 a month and an estimated $74 of homeowner insurance brings the full payment to around $1,536.
What are the main mortgage options in Missouri?
Missouri homebuyers can use FHA loans with a 580 credit score, 3.5 percent down, and debt ratios up to 50 percent, VA loans with 100 percent financing and no mortgage insurance for veterans with a 620 score, USDA loans in loosely defined rural areas with low rates and closing costs, or conventional loans with 3 percent down for first-time buyers and 5 percent for repeat buyers.
What first-time homebuyer programs does Missouri have?
The Missouri Housing Development Commission runs the First Place Loan Program, which provides up to 4 percent of the loan amount in down payment and closing cost help, forgiven over 10 years of staying in the home. The Next Step Program offers the same 4 percent assistance with higher income limits, and a Mortgage Credit Certificate credits up to 40 percent of annual mortgage interest.
What credit score do you need for a mortgage in Missouri?
With a 580 credit score you can qualify for an FHA loan with just 3.5 percent down, and scores of 500 - 579 may still be approved with 10 percent down. Veterans need around 620 for a VA loan, while conventional borrowers should have great credit and low debt ratios. MHDC programs like the First Place Loan have their own credit score requirement.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.